@dan can you give us some insight please? Why do you have eth raised from the ICO sitting on the exchange? And why are the exchange prices higher than what you can buy for through the ico?
@dan can you give us some insight please? Why do you have eth raised from the ICO sitting on the exchange? And why are the exchange prices higher than what you can buy for through the ico?
It seems pretty obvious that they are cashing them out to pay for development costs. In what way is that sinister? Do you expect them to hold the ETH forever - or would you prefer they cashed them out in one go and crashed the ETH price?
Do you really think they need $4million already.. they have only apparently hired an additional 4 developers. Since I wrote this article a further 160k ETH has been moved.
I think they are in a better position to know that than us - we are not privy to their costs or what exactly they are doing development wise.
I find it odd that after raising all these funds you expect them to just sit on them forever.
They may want to mitigate the risk by cashing out over time (in case of any falls in the ether price).
That makes perfect sense to me. In the case of the original ethereum ICO by the time the BTC raised was sold the price had collapsed and the core development team lost a lot of money as a result of that.
Seems to me like you are panicking over them doing exactly what they would be expected to do.
It makes little sense.
I think we should all be critical when the price of EOS tokens are trading on the exchange for more than what you can acquire through the token sale itself.
You have to also consider that EOS is potentially going to be a direct competitor with ETH in the future.
I asked a pretty direct question and was shown the FAQs - that is not a response.. that is a politicians diversion tactic. He could've easily said hey look we plan on moving all eth into FIAT (or whatever) over the course of the year. And for these reasons.. this ico is just as much a joke as all the other ones..
They think they can simply collect everyones funds and not be accountable to anyone.. why would they not give the respect to answer legitimate questions with some solid statements.
I am not an investor in EOS and I am also getting out of ETH so I dont have any biased views. Just after some answers.
Markets are not always rational. The trading price is not under the control of the EOS team.
That section of the FAQ does answer your question in that it makes clear that they are not breaking any of the terms listed there.
Further you are lucky you got any answer at all as I suspect they are very busy.
Just because you can see some things on the blockchain does not entitle you to all sorts of answers about how they do business.
Name any other business that answers direct questions about how they move their funds around to members of the public.
Indeed try asking a non-blockchain company for that kind of information - I doubt you will get a response at all.
If you are not invested what is the problem?
You seem to be under the impression that you are due some answers anyway.
I fail to see why you think that.
I think it is more than reasonable to be able to ask any company what they are doing with funds the gathered from the public.
Everyone should be critical.. I can easily write some FAQs as well. And yes, companies are accountable to their shareholders. Even though EOS has said that holding tokens gives you no rights at all.. they should still respect where their money has come from.
Why should I care? Am I not allowed to get my questions answered before investing?
I think you are being unrealistic. Go and ask Facebook or Google for the information on their accounts - see how far you get. Further you are not buying shares in this case and even if you were - there are limits to the information you can get - you can't just message Sundar Pichai if you are wanting to buy Google shares and ask for any figures you feel like. That is patently ridiculous.
meep